April 2019 Update

We are currently in the process of updating our main comparison pages & the supporting company profiles. Thanks for your patience during this time.

Castle Finance Direct Loans | www.castlefinancedirect.co.uk Reviews

Castle Finance Direct Loans

Intro…

Castle Finance Direct is a popular yet somewhat controversial broker. This is now a central focus, but there have been several managed projects over the years. This family run business (by the Claytons) has picked up a bad rep for their arrangement fee. There can however be no denying the popularity. This has been built up over many years with the company being formed in 2003 (their site followed in 2004). It isn’t quite clear how they have grown to the extent that they have today. They aren’t active on social media and don’t advertise much. The assumption is that they are used as a back-end partner when a lender declines an application (hence earning money from that decline).

About…

Brand: Castle Finance Direct (aka: CastleFinanceDirect).
Company: Castle Finance Direct Ltd.
Founder: Anthony Clayton.
Launched: 2003.
Licence: 719209.
Offers: Loan matching for personal.
Opening Hours: Not disclosed.
Other Projects: Discussed further below.
Reloan Payouts: NA.
Web: www.castlefinancedirect.co.uk.

Contact…

Address: Office 261, 51 Pinfold Street, Birmingham, B2 4AY.
Email: admin@castlefinancedirect.co.uk.
Phone: No phone number.

Popularity…

Alexa Rank (Local): #98,734.
Facebook Page: No page.

Pricing…

£646.92 /£1000 (36m).

= Rate is variable.

Product…

Amounts: £300 to £15,000 (new applicants).
Amounts: As above (when reloaning).
Amount Selections: Not shown on application.
Late Payment Fee: NA.
Terms: 12 to 60 months.

*Product specs depend on where applicants are referred. The lending partners used are not specified. The example above includes a £79 admin fee. More information on this is provided in their Terms and Conditions page in the bottom menu section. This is a required payment. It does state that you are entitled to a refund of the fee minus £5 if you don’t receive a loan within 6 months. The general APR range headed is 20% to 70%.

Service Pros…

This company is highly experienced and they do help out a lot of people. The Castle Finance Direct reviews on the Review Centre were quite mixed, but there was a fair amount of reviewers receiving sizeable payouts. Subprime targeting is very clear here with headlines across the top page of blacklisted, CCJs, defaults, poor credit etc. This would suggest that they can help out when others can’t. There is as noted no specifics on the panel used that makes it tricky to judge this. Their site is built to collect leads above all else, but they do at least encrypt all applications. The site’s popularity is notably high and so they must be doing most things right.

Service Cons…

We’d never advise using any broker that requires a loan matching fee. If they are successful in referring a lead then they’ll already be receiving a commission of a few hundred pounds since they deal with larger longer term loans and so is there any need to charge £79 upfront? The fee itself isn’t clearly specified. There is a small note of it at the bottom of the page, but without looking in the terms this may be overlooked. We aren’t sure if they mention it clearly before the application is completed since the form continues over a number of pages. More transparency on their lending panel would be ideal as well as more detailed content, as opposed to the focus on collecting that lead.

Trading Names…

There has historically been a larger network of sites. Those added on their old licence such as Apple Tree Loans have now been scrubbed from the updated listing. Under a different organisation they were quite famous back in the day for Wentworth Direct Finance that has since closed. This was advertised a lot and received lots of bad press in the media that would have likely pushed the company to close. There was a past fine for this in misleading customers who called a premium rate phone line. This featured firm doesn’t take calls. Anthony Grant Clayton is listed on the FCA under Red Lion Finance (at www.redlionfinance.co.uk). This site is active, yet not very popular.

Submit your review
1
2
3
4
5
Submit
     
Cancel

Create your own review

www.castlefinancedirect.co.uk Reviews
Average rating:  
 0 reviews